Short Interest in Principal Investment Grade Corporate Active ETF (NYSEARCA:IG) Increases By 294.5%
by Renee Jackson · The Cerbat GemPrincipal Investment Grade Corporate Active ETF (NYSEARCA:IG – Get Free Report) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 52,246 shares, an increase of 294.5% from the March 31st total of 13,244 shares. Based on an average daily trading volume, of 101,249 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.6% of the company’s shares are short sold.
Principal Investment Grade Corporate Active ETF Trading Up 0.0%
Shares of IG traded up $0.01 during midday trading on Friday, hitting $20.75. The stock had a trading volume of 19,574 shares, compared to its average volume of 39,368. Principal Investment Grade Corporate Active ETF has a fifty-two week low of $20.13 and a fifty-two week high of $21.36. The business has a 50-day simple moving average of $20.77 and a two-hundred day simple moving average of $20.91. The firm has a market cap of $180.53 million, a P/E ratio of 345.83 and a beta of 0.40.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of Principal Investment Grade Corporate Active ETF by 0.7% in the fourth quarter. Royal Bank of Canada now owns 70,167 shares of the company’s stock worth $1,466,000 after buying an additional 522 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Principal Investment Grade Corporate Active ETF during the third quarter worth approximately $27,000. AE Wealth Management LLC acquired a new stake in shares of Principal Investment Grade Corporate Active ETF during the third quarter worth approximately $82,000. Raymond James Financial Inc. boosted its holdings in shares of Principal Investment Grade Corporate Active ETF by 0.8% during the second quarter. Raymond James Financial Inc. now owns 782,002 shares of the company’s stock worth $16,273,000 after purchasing an additional 6,366 shares during the period. Finally, Citadel Advisors LLC boosted its holdings in shares of Principal Investment Grade Corporate Active ETF by 55.3% during the third quarter. Citadel Advisors LLC now owns 27,169 shares of the company’s stock worth $573,000 after purchasing an additional 9,678 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.
About Principal Investment Grade Corporate Active ETF
The Principal Investment Grade Corporate Active ETF (IG) is an exchange-traded fund that is based on the Bloomberg U.S. Corporate Bond index. The fund is an actively managed fund that provides current income by selecting investment-grade, USD-denominated bonds of any maturity. IG was launched on Apr 18, 2018 and is managed by Principal.